A year on - update on Luton's major investment programme

30th June, 2017

A year on - update on Luton's major investment programme

The event showcased the significant progress the town’s £1.5 billion inward investment programme has already made, with the promise of more to come.

Since the launch of the LIF in 2016 there has been significant progress in the redevelopment of Marsh Farm and ongoing investment at London Luton Airport.

Works for the regeneration of the former Vauxhall car plant have been approved and new road works to facilitate the development have started.

Planning permission has recently been granted for the Luton Direct Air Rail Transport, which will connect Luton Airport Parkway railway station to the airport and this will also help secure economic growth.

There will also be continued investment into Luton's Cultural Quarter.

As part of our positive approach to investment, property developers and investors funded the event and talked to the audience about their plan for the town.

Business leaders also took part in a panel discussion where Luton’s great offer was discussed and how the town is fast becoming a magnet for employers offering high-quality jobs.

Realising the true benefits of being based in Luton, businesses have been investing in the town including Signature Flight Support with an investment of £26 million.

A further development in the town is the arrival of Metro Bank, which will add a new store to its portfolio with around 25 new staff recruited locally.
Cllr Hazel Simmons, Leader of Luton Council, said: "Luton’s Investment Framework continues to underpin how we are working with key partners to drive improvements to prosperity, health and wellbeing across the town.

"Luton is ambitious, innovative and ready for business with its super-fast broadband connectivity, improving infrastructure, and major schemes coming forward. The town has become a destination of choice for many businesses."

"I think the event today was a good opportunity for us to show how things have developed and our ambitions for the town. The audience was impressed by the changes taking place and how far we have come - the transformation of Luton is well and truly underway."

Nick Barton, CEO of London Luton Airport Ltd (LLAL), said: "Luton’s business scene is thriving. As the region’s largest employer, London Luton Airport is proud to be part of this success.

"Our current investment into the airport means we expect to support 22,000 jobs and contribute £1.2 billion to the Three Counties economy by 2030.

"Improved transport connections are central to the LIF and are particularly attractive for inward investors. The investment by the council owned LLAL of the £200m transit link between the airport terminal and Luton Parkway Station demonstrates our shared ambition to improve connectivity.

"Introducing four fast trains per hour to Parkway station as part of the new East Midlands Trains franchise should accelerate growth even further."